Fundamentals of the basics: gas We decided that, in connectio | SVIATOSLAV GUSEV

Fundamentals of the basics: gas

We decided that, in connection with the new influx of people completely unfamiliar with digital assets into the crypto community, it would be nice to brush up on simple truths. And today we will talk about gas.

Let's imagine a situation - you receive a transfer of 0.05 BTC or 5 TON. You try to exchange them for rubles in some exchanger and create an application for exactly the same amount. And when the time has come to conduct a transaction, it turns out that you do not have enough funds in your account.

The trick is that in most cryptocurrencies, transactions are also worth something. Sometimes it’s mere pennies, sometimes it’s under a hundred dollars, as was the case with Ethereum last year during the NFT hype.

Treat gas like the gasoline that powers the transaction. In order for the amount to “move” from one wallet to another, you need enough fuel-gas.

By the way, not all cryptocurrencies are paid for transactions - now blockchains without gas have begun to be introduced. But large-cap cryptocurrencies like BTC, ETH, BNB, TON and others require a certain amount of gas.